The average rents for apartments in Dubai and Abu Dhabi witnessed a minor decline in the third quarter of 2016, according to bayut.com’s latest UAE market report published last Monday.
The report notes a decline in average rents in the UAE by 2%. Compared to the second quarter, Dubai and Abu Dhabi saw a decline of 2% and 4% respectively in average rents.
Bayut nonetheless sees signs of market recovery, stating that the drop of rental prices was slowing down compared to the previous months.
These signs of recovery, along with a trend towards rent-to-own offerings in Dubai leads the report to certify the UAE market a positive outlook, stating it is “headed in the right direction and better times are around the corner.“